Here is what the Department of State requires straight from the Application For A U.S. Passport
1. PROOF OF U.S. CITIZENSHIP
a. APPLICANTS BORN IN THE UNITED STATES: Submit a previous passport or certified birth certificate. A birth certificate must include your full name, the full name of your parent(s), date and place of birth, sex, date birth record was filed, and seal or other certification of the official custodian of such records.
Which of those requirements does Obama’s CoLB lack?
There may be some confusion because birth abstracts from California and Texas are not accepted by the DoS when applying for a passport, however Hawaii’s short form meets their requirements.
It just might be possible that there aren't any amendments.